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Wednesday, July 31, 2019

FD Calculator - Calculate Online FD Interest Rates & Maturity Value 2019

The online FD Calculator shows you total money and interest earned after the maturity.

Table of Content: 
  • What is Fixed Deposit 
  • Fixed Deposit Features
  • Fixed Deposit Interest Rate
  • FD Calculator
  • How to open FD Account
  • Benefits of Fixed Deposit

Fixed Deposits are one of the most reliable sources of investment, that also means that they’re one of the slowest. A good return from a fixed deposit can take years to provide any tangible benefit, that is, if you’re investing in it like everyone else.

If you want to know how much interest you stand to gain at the end of the tenure, then you can go online FD calculator. You can input your FD details such as:
  • Principal Amount
  • Rate of Interest
  • Select Interest Compounding: a)Monthly, b) Quarterly, c) Half Yearly and d) Yearly
  • Period (Months)
Click on submit button it will show you how much you stand to gain after the period ends. It’s a right way of finding which banks and NBFCs can give you more gains than others.        
Features of Fixed Deposit (FD) Investment that a service provider Offer
Fixed Deposit is one of the safest forms of investment. Yes, that is a fact which an investor cannot ignore.
  • Facility to open FD account online and offline
  • Provide a flexible tenor
  • Provide high returns on your investment
  • High Interest rate on Senior Citizen FD
  • Avail Loan against FD facility
  • High credibility and stability
  • Tax benefits on fixed deposit
Rate of Interest on Fixed Deposit Investment
As compare to saving account fixed deposit interest rates are much higher, Fixed deposit interest rates in India vary from bank to bank, and it’s you must to ensure that you get the most for your money by comparing FD interest rate of different bank or NBFCs.

Calculate the FD Maturity Amount  
There are two methods to calculate the fixed deposit maturity value one is to calculate it manually, and another one is through an online calculator.

Calculate Manually FD Interest: Generally, banks use the Compound Interest and Simple Interest
  • Compound Interest Calculation Process: P {(1 + i/100)n – 1}
  • Simple Interest Calculation Process: P x r x t/100
Save your time by using online FD calculator and get the exact value of maturity amount within a second.

The Process to Open Fixed Deposit Account
Now that you are aware internet digital services, bank and a non-banking finance company (NBFC) provide the facility to open you FD investment online and offline:

Online Process without visiting Branch
  • First need to browse bank website
  • Open the Fixed Deposit page
  • Need to create your login ID and Password to access account
  • Fill the application form and check all eligibility criteria
  • Upload all related documents and deposit amount. 
Offline Process by visiting Branch
  • Need to go the bank and collect the form
  • Fill form accordingly
  • Attached the relevant document
  • Submit the application form 

Benefits of Fixed Deposits (FDs) in India

An FD or Fixed Deposit is a deposit made in a bank for a given period and at a rate of interest which is fixed. FDs as a financial instrument, have consistently delivered good returns after being tested and tried for a substantial amount of period. Additionally, for a person who is investing money for the first time, fixed deposit is a great start. 

Assured Returns: There is assured return on investment when the fixed deposit is considered. An FD gives you the required returns after it matures no matter what the market interest rate is at that point of time. The most striking feature of a fixed deposit is that it is unaffected by market fluctuations in the interest rate.

Decide Tenure: Depending on customer’s requirement, the tenure of a fixed deposit is flexible and ranges from 7 days to 10 years. You can choose to have different FDs for various or same tenure in the same or different bank. You will get a separate receipt for every fixed deposit.

Generate Extra Profit: When compared to a savings account, the interest rate of a fixed deposit is much higher. The tenure of a fixed deposit affects the interest rate. Usually, the interest rate is higher when the tenure of the investment is long. The interest rate is decided to take into consideration the repo rate. Interest rates of FDs more than five years will be less when compared to interest rates for three years if the repo rate is anticipated to increase.

Interest Payment Method:  Be it quarterly, monthly or yearly basis, customers can choose how frequently they would like to receive the interest amount. For the customer, this will act as another source of income. Additionally, interest will be reinvested into the fixed deposit when a customer chooses a cumulative FD.

Senior Citizen FD: Higher interest rates are offered to senior citizens on senior citizen fixed deposits. Hence, many senior citizens opt for this loan after they retire. The rate for FDs is higher as compared to a savings account and is greater by 0.5% for senior citizens.

Fixed Deposit Loan: Your fixed deposit can be a resource from where you can take a loan in case of an emergency. 90% of the principal amount of the fixed deposit can be borrowed by the customer for a loan. Moreover, the customer will keep earning interest over the fixed deposit that can be used to repay the loan amount.

Urgent Money Situations: Money can be withdrawn, and your fixed deposit can be broken in case you need the money.  However, for breaking a fixed deposit, banks charge a small amount as penalty.

Joint Fixed Deposits: You can take a joint fixed deposit with your children, spouse or parents. However, both parties will have to give their signatures at the time of premature withdrawal in the application form.

Listed above are the benefits of fixed deposits. FDs have been a trusted source of investment for many people, and till date, they prefer investing in FDs rather than other marketable investments. FDs are more reliable when compared to other market investments. They can also be broken at any time in case of an emergency or a loan can be taken against a fixed deposit. If you have just started your professional career, it is advised to keep a certain sum of money in fixed deposits as it will get you the desired returns after ten years and the interest earned on it could be a boost for your savings too.

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